Only certified public accountants may use the CPA title

Only certified public accountants shall be authorized to use the title CPA or Accountant
under a bill protecting the accounting profession.
Rep. Roy Seeres (Party!ist" O#$ #A%&!'( filed )ouse *ill +,-." /hich ai0s to deter any
atte0pt to under0ine" li0it" restrain" restrict" and or degrade the CPAs in the practice and e1ercise of
their legiti0ate profession.
2he bill see3s to a0end Section .4 and 5- of Republic Act 6.64" other/ise 3no/n as the
Philippine Accountancy Act of .77+.
Seeres said it is a 3no/n fact that the standard for the ad0ission to the practice of public
accountancy in the Philippines" 8ust li3e the other fields of discipline" cannot be understated.
2he !icensure 91a0inations for Certified Public Accountants by the *oard of Accountancy
and appro:ed by the Professional Regulation Co00ission (PRC( is ad0ittedly a grueling" not to
0ention the rigid preparations in the study and re:ie/ of accountancy" Seeres said.
Seeres said there is a need to recognize the i0portant roles played by CPAs in the successful
operation of business enterprises both in the public and pri:ate sectors" as /ell as" go:ern0ental
functions in the ;ational 2reasury" Co00ission on Audit" <epart0ent of *udget and %anage0ent"
and the entire financial structure of the go:ern0ent.

=nder the bill" single practitioners" fir0s and partnerships of certified public accountants
engaged in the practice of public accountancy" including partners and associates" shall be registered
/ith the Professional Regulation Co00ission (PRC( and the *oard of Accountancy.
A certificate of accreditation shall be issued to certified public accountants in public practice
by the *oard of Accountancy and appro:ed by the Professional Regulation Co00ission (PRC( /ith
no other re>uire0ent e1cept passing the licensure e1a0inations for certified public accountants.
;o other go:ern0ent regulatory agencies" bureaus" co00issions" depart0ents" boards"
Bangko Sentral ng Pilipinas, and instru0entalities shall re>uire separate accreditation of certified
public accountants in public practice other than the one re>uired and or issued by the *oard and
appro:ed by the PRC
2he Securities and 91change Co00ission (S9C( need not register any corporation organized
for the practice of public accountancy.
2he 0easure also re>uires that registration shall be rene/ed e:ery three years" pro:ided that
sub8ect to the appro:al of the PRC" the *oard of Accountancy shall pro0ulgate rules and regulations
for the i0ple0entation of registration re>uire0ents including the fees and penalties for :iolation.
(57( jc
NR # 3548B
AUG 4, 2014